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November 20, 2023

Aya Gold & Silver Reports High-Grade Drill Exploration Results and Adds 4 Permits at Boumadine

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Montreal, Quebec, November 20, 2023 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce new high-grade drill exploration results at Boumadine in the Kingdom of Morocco. The new results confirm the large, high-grade mineralized zones in the central and northern portions of the Main Trend, which remains open in all directions.

The Corporation has also added 4 permits to Boumadine, which now has a total surface footprint of 78 square kilometers (“km²”).

Key Highlights[1]

  • Definition of new high-grade mineralization from the infill drilling program:
    • BOU-DD23-180 intersected 1,039 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 23.5 meters (“m”) (6.41 g/t Au, 116 g/t Ag, 4.7% Zn, 0.6% Pb and 0.4% Cu)
    • BOU-DD23-184 intersected 474 g/t AgEq over 30.1m (2.7 g/t Au, 85 g/t Ag, 2.2% Zn, 0.6% Pb and 0.1% Cu), including 3.2m at 1,339 g/t AgEq and 3.4m at 1,169 g/t AgEq
    • BOU-DD23-172 intersected 2,689 g/t AgEq over 3.7m (22.03 g/t Au, 531 g/t Ag, 1.3% Zn, 0.3% Pb and 0.2% Cu)
    • BOU-DD23-186 intersected 442 g/t AgEq over 16.6m (1.85 g/t Au, 150 g/t Ag, 1.9% Zn, 0.3% Pb and 0.1% Cu), including 2.7m at 1,088 g/t AgEq
    • BOU-DD23-176 intersected 202 g/t AgEq over 30.6m (1.42 g/t Au, 20 g/t Ag, 0.6% Zn, 0.3% Pb and 0.05% Cu)
    • BOU-DD23-178 intersected 613 g/t AgEq over 9.5m (2.70 g/t Au, 49 g/t Ag, 4.2% Zn, 1.8% Pb and 0.2% Cu), including 2.3m at 1,476 g/t AgEq
  • Acquisition of two mining permits totaling 15.8 km² north-east and south-west of Boumadine.
  • Acquisition of one mining and one exploration permit for a total of 20.0 km² west of Boumadine.

“The acquisition of new permits is core to our strategy of consolidating our land position, and the four permits provide additional upside potential in the vicinity of the Boumadine Main Trend,” said Benoit La Salle, President & CEO. “Today’s high-grade drilling results including BOU-DD23-180 and BOU-DD23-184 confirm both continuity of the Main Trend and its potential from surface and over a very wide area. Following the positive metallurgical test results, our team is now focused on completing the remaining 20% of the expanded drill program and delivering the Q1-2024 Boumadine resource estimate.”

[1] All intersections are in core lengths; Ag equivalent is based on a 100% recovery with the following ratios: 1g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 g/t Ag; 1% Pb: 31.8 g/t Ag; 1% Zn: 54.1 g/t Ag

Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)

DDH No. Section Zone From
(m)
To
(m)
Au
(g/t)
Ag
(g/t)
Length*
(m)
Cu
(%)
Pb
(%)
Zn
(%)
Mo
(g/t)
Ag Eq**
(g/t)
BOU-DD23-172 8550N Para 141.5 146.1 4.59 99 4.6 0.1 0.9 2.3 135 694
BOU-DD23-172 8550N Main 151.8 155.5 22.03 531 3.7 0.2 0.3 1.3 9 2689
BOU-DD23-172 8550N Para 163.5 169.2 2.61 100 5.7 0.1 0.1 4.1 8 589
Including 165.2 168.6 3.96 150 3.4 0.2 0.2 6.4 11 902
BOU-DD23-173 8025N Main 203.5 214.1 1.60 22 10.6 0.0 0.1 1.2 6 246
BOU-DD23-176 8275N Main 69.1 99.7 1.42 20 30.6 0.0 0.3 0.6 8 202
BOU-DD23-178 8275N Main 166.4 175.9 2.70 49 9.5 0.2 1.8 4.2 36 613
Including 165.4 167.7 6.49 125 2.3 0.3 1.3 12.3 4 1476
BOU-DD23-179 8225N Main 70.3 82.2 1.52 8 11.9 0.0 0.5 1.4 18 246
BOU-DD23-180 8375N Para 127.7 136.5 1.27 21 8.8 0.0 0.5 2.5 17 298
BOU-DD23-180 8375N Main 165.1 188.6 6.41 116 23.5 0.4 0.6 4.7 3 1039
BOU-DD23-180 8375N Para 248.5 282.4 0.64 24 33.9 0.0 0.3 0.5 5 128
BOU-DD23-184 8225N Main 104.8 134.9 2.57 85 30.1 0.1 0.6 2.2 15 474
Including 104.8 108.0 6.69 528 3.2 0.1 0.8 2.6 8 1339
Including 130.5 133.9 5.65 120 3.4 0.2 1.6 8.1 91 1169
BOU-DD23-186 8175N Main 37.8 54.4 1.85 150 16.6 0.1 0.3 1.9 8 442
Including 45.4 48.1 6.03 381 2.7 0.2 0.5 1.7 12 1088
BOU-DD23-187 8225N Main 183.6 193.3 1.27 33 9.7 0.0 0.2 1.9 33 271
BOU-DD23-189 8175N Main 92.5 97.3 4.00 126 4.8 0.1 1.5 1.4 14 642
Including 94.3 97.3 5.95 179 3.0 0.2 2.2 1.2 15 896
BOU-DD23-189 8175N Para 103.1 114.7 1.38 68 11.6 0.1 0.1 2.9 33 366
BOU-DD23-191 8175N Main 158.5 169.5 1.61 30 11.0 0.1 0.2 3.4 12 377
Including 158.5 167.5 1.87 33 9.0 0.1 0.2 3.7 7 423
BOU-DD23-198 8675N Para 185.8 196.1 2.59 63 10.3 0.2 0.2 2.1 6 451
Including 185.8 189.4 6.21 144 3.6 0.5 0.4 3.7 5 1006
BOU-DD23-200 8175N Main 244.3 248.5 3.47 80 4.2 0.3 0.1 1.0 19 506
BOU-DD23-202 8675N Main 349.2 355.2 4.31 129 6.0 0.1 0.6 1.4 41 645
Including 352.3 354.0 10.11 339 1.7 0.3 1.2 2.8 54 1522

  *    True width remains undetermined at this stage; all values are uncut.

**   Ag equivalent is based on a 100% recovery with the following ratio: 1 g/t Au: 93.4 g/t Ag; 1% Cu:130.4 Ag; 1% Pb: 31.8 Ag;

       1% Zn: 54.1 Ag.

Figure 1: Location of New Boumadine Permits

Figure 2 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2023 Drill Holes

2023 Exploration Results

To date, 159 diamond drill holes (“DDH”) for a total of 61,312m have been completed at Boumadine in 2023 (Figure 2 and Appendix 2). Both infill and exploration drilling were conducted on strike along the Main Trend (South, Central, and North Zones).

Most results have been received for drill holes up to BOU-DD23-203 (Table 1, Figure 4, Figure 5, and Appendix 1).

Results received since September 2023 confirm the high grade of the north and central sections of the Main Trend, notably with holes BOU-DD23-180 and BOU-DD23-184 intersecting large, mineralized zones.

The main mineralization generally consists of 1m to 4m wide (locally reaching over a 10m width) N340- oriented massive sulphide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins (>80%) are mainly composed of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite. Figure 3 presents the results of the Boumadine Main Zone on a longitudinal section along the deposit, defining ore shoots shallowly dipping toward south, in both the Central and South Zones.

Figure 3 – Longitudinal View of Boumadine Main Zone

Figure 4 – Surface Plan of Central & North Zones with New 2023 DDH Results

Next Steps

The 76,000m drilling program is 80% complete and is expected to be completed at year-end 2023. The Corporation expects to publish an NI 43-101 compliant resource by the end of Q1-2024.

Fieldwork will commence on the new permits in 2024 and will combine a hyperspectral survey, ground geophysics, mapping and prospecting.

 

Technical Information

Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core. Drill core samples were transported in sealed bags for analysis at Afrilab laboratory in Marrakech. Standards of different grades and blanks were inserted every 20 samples in addition to the standards, blanks and pulp duplicate inserted by Afrilab.

 

Qualified Person

The scientific and technical information contained in this press release have been reviewed by David Lalonde, B. Sc, Head of Exploration, Qualified Person, for accuracy and compliance with National Instrument 43-101.

 

About Aya Gold & Silver Inc.

Aya Gold & Silver Inc. is a rapidly growing, Canada-based silver producer with operations in the Kingdom of Morocco.

 

The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted past-producing mines and historical resources. Aya’s Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.

 

Aya’s management team maximizes shareholder value by anchoring sustainability at the heart of its production, resource, governance, and financial growth plans.

 

For additional information, please visit Aya’s website at www.ayagoldsilver.com or contact:

 

Benoit La Salle, FCPA, MBA

President & CEO

benoit.lasalle@ayagoldsilver.com

Alex Ball

VP, Corporate Development & IR

alex.ball@ayagoldsilver.com

 

Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), which reflects management's expectations regarding Aya’s future growth and business prospects (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as “confirm”, “potential”, “complete”, “expect” “extend”, “belief”, and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are “likely” to be taken, occur or be achieved, have been used to identify such forward-looking information.  Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to the exploration and development potential of Boumadine and the advancement of and success of the exploration program at Boumadine , and timing for the release of the Company's disclosure in connection with the foregoing. Although the forward-looking information contained in this press release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Aya cannot be certain that actual results will be consistent with such forward-looking information. Such forward-looking statements are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions, and its expectations of future developments that management believe to be reasonable and relevant but that may prove to be incorrect. These assumptions include, among other things, the ability to obtain any requisite governmental approvals, the accuracy of Mineral Reserve and Mineral Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), silver price, exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and courses of action. Aya cautions you not to place undue reliance upon any such forward-looking statements.

The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of silver and other key inputs, changes in mine plans (including, but not limited to, throughput and recoveries being affected by metallurgical characteristics) and other factors, such as project execution delays, many of which are beyond the control of Aya, as well as other risks and uncertainties which are more fully described in Aya's 2022 Annual Information Form dated March 31, 2023, and in other filings of Aya with securities and regulatory authorities which are available on SEDAR at www.sedar.com. Furthermore, Aya’s corporate update of May 28, 2020 regarding the materiality of its assets as well as to studies regarding non-material assets remains applicable as at the date hereof. Aya does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs, and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Aya securities. All references to Aya include its subsidiaries unless the context requires otherwise.

Appendix 1 – Full Drill Results from Boumadine (core lengths)

DDH No. Section Zone From
(m)
To
(m)
Au
(g/t)
Ag
(g/t)
Length*
(m)
Cu
(%)
Pb
(%)
Zn
(%)
Mo
(g/t)
Ag Eq**
(g/t)
BOU-DD23-165 8125N Para 280.1 282.1 4.69 84 2.0 0.3 0.1 0.3 47 589
BOU-DD23-165 8125N Para 297.0 298.0 0.37 24 1.0 0.0 0.1 2.6 8 209
BOU-DD23-165 8125N Para 333.0 333.5 0.26 42 0.5 0.0 1.3 4.1 7 327
BOU-DD23-165 8125N Main 462.7 463.7 0.36 12 1.0 0.0 0.1 0.2 4 60
BOU-DD23-165 8125N Para 546.2 546.9 0.60 25 0.7 0.0 0.5 0.6 4 127
BOU-DD23-166 8850N Para 140.0 141.0 0.32 43 1.0 0.0 0.1 0.8 2 119
BOU-DD23-166 8850N Para 141.7 142.5 0.09 48 0.8 0.0 0.3 0.6 9 99
BOU-DD23-167 8025N NSR 0.0 163.4 0.00 0 163.4 0.0 0.0 0.0 0 0
BOU-DD23-168 8325N Para 125.4 126.4 4.35 16 1.0 0.0 0.4 0.8 1 480
BOU-DD23-170 8025N Para 67.3 68.9 0.36 23 1.6 0.0 0.2 0.3 85 84
BOU-DD23-170 8025N Main 86.5 87.6 2.59 63 1.1 0.1 0.3 0.6 304 382
BOU-DD23-170 8025N Para 124.3 126.5 0.48 4 2.2 0.0 0.1 0.5 8 84
BOU-DD23-172 8550N Para 128.3 130.1 0.26 23 1.8 0.0 0.6 0.7 68 108
BOU-DD23-172 8550N Para 141.5 146.1 4.59 99 4.6 0.1 0.9 2.3 135 694
BOU-DD23-172 8550N Main 151.8 155.5 22.03 531 3.7 0.2 0.3 1.3 9 2689
BOU-DD23-172 8550N Para 163.5 169.2 2.61 100 5.7 0.1 0.1 4.1 8 589
Including 165.2 168.6 3.96 150 3.4 0.2 0.2 6.4 11 902
BOU-DD23-172 8550N Para 244.8 245.6 1.29 41 0.8 0.0 0.2 0.4 3 194
BOU-DD23-173 8025N Para 127.4 128.6 0.54 16 1.2 0.0 0.1 0.4 15 95
BOU-DD23-173 8025N Main 203.5 214.1 1.60 22 10.6 0.0 0.1 1.2 6 246
Including 209.3 214.1 2.67 32 4.8 0.1 0.2 2.0 8 407
BOU-DD23-174 8025N Main 287.1 290.3 1.90 40 3.2 0.1 0.2 0.3 19 260
Including 288.1 289.3 4.04 80 1.2 0.3 0.3 0.3 27 530
BOU-DD23-174 8025N Para 435.0 435.5 3.29 126 0.5 0.2 0.7 0.3 4 492
BOU-DD23-175 8025N Para 108.1 108.8 0.28 21 0.7 0.1 0.5 2.4 12 205
BOU-DD23-175 8025N Para 183.6 187.0 0.05 45 3.4 0.0 5.7 1.5 9 317
BOU-DD23-175 8025N Main 269.3 270.3 0.16 16 1.0 0.0 1.5 2.1 22 195
BOU-DD23-176 8275N Para 45.3 46.0 0.54 13 0.7 0.0 0.1 5.1 15 347
BOU-DD23-176 8275N Para 49.5 50.6 0.47 8 1.1 0.0 0.1 0.3 6 73
BOU-DD23-176 8275N Main 69.1 99.7 1.42 20 30.6 0.0 0.3 0.6 8 202
BOU-DD23-177 8850N Main 31.9 34.8 3.40 120 2.9 0.0 1.5 0.1 17 494
BOU-DD23-177 8850N Para 43.0 44.0 0.76 29 1.0 0.0 0.7 0.7 24 160
BOU-DD23-178 8275N Para 113.1 117.5 2.32 28 4.4 0.0 0.3 1.3 4 333
BOU-DD23-178 8275N Para 132.1 132.8 0.39 40 0.7 0.0 1.6 2.2 2 251
BOU-DD23-178 8275N Para 139.5 142.0 1.21 46 2.5 0.0 0.4 1.9 6 280
BOU-DD23-178 8275N Para 151.8 152.7 0.76 12 0.9 0.0 0.2 0.3 2 107
BOU-DD23-178 8275N Para 156.1 158.3 2.66 59 2.2 0.2 0.1 0.2 5 348
BOU-DD23-178 8275N Main 166.4 175.9 2.70 49 9.5 0.2 1.8 4.2 36 613
Including 165.4 167.7 6.49 125 2.3 0.3 1.3 12.3 4 1476
BOU-DD23-179 8225N Para 22.4 22.9 0.66 64 0.5 0.0 1.5 5.3 75 467
BOU-DD23-179 8225N Para 24.5 25.0 0.73 33 0.5 0.1 0.5 2.8 16 271
BOU-DD23-179 8225N Para 38.0 38.6 0.39 12 0.6 0.0 0.1 1.0 8 110
BOU-DD23-179 8225N Para 44.0 47.4 1.17 28 3.4 0.0 0.1 1.1 17 203
BOU-DD23-179 8225N Main 70.3 82.2 1.52 8 11.9 0.0 0.5 1.4 18 246
BOU-DD23-180 8375N Para 104.7 105.6 0.40 24 0.9 0.0 0.9 2.3 1 217
BOU-DD23-180 8375N Para 127.7 136.5 1.27 21 8.8 0.0 0.5 2.5 17 298
Including 129.4 133.5 2.18 31 4.1 0.1 0.3 3.4 28 440
BOU-DD23-180 8375N Para 144.6 148.2 0.69 18 3.6 0.0 0.3 0.8 5 141
BOU-DD23-180 8375N Para 155.6 156.4 0.59 24 0.8 0.0 0.3 2.2 107 217
BOU-DD23-180 8375N Para 157.3 157.9 0.49 12 0.6 0.0 0.2 1.8 11 161
BOU-DD23-180 8375N Para 159.8 160.3 2.62 67 0.5 0.1 0.5 3.7 7 538
BOU-DD23-180 8375N Main 165.1 188.6 6.41 116 23.5 0.4 0.6 4.7 3 1039
BOU-DD23-180 8375N Para 248.5 282.4 0.64 24 33.9 0.0 0.3 0.5 5 128
BOU-DD23-180 8375N Para 296.0 297.0 0.64 8 1.0 0.0 0.0 0.1 11 73
BOU-DD23-180 8375N Para 301.0 302.0 0.42 12 1.0 0.0 0.3 0.5 6 88
BOU-DD23-181 8025N Main 345.1 345.9 0.99 48 0.8 0.1 2.4 2.6 3 376
BOU-DD23-181 8025N Para 357.2 358.3 0.34 59 1.1 0.2 6.1 7.5 3 717
BOU-DD23-181 8025N Para 480.2 480.7 0.35 33 0.5 0.0 1.3 0.9 34 159
BOU-DD23-181 8025N Para 537.1 538.3 0.03 136 1.2 0.0 0.4 0.2 8 163
BOU-DD23-182 8275N Para 145.3 145.9 0.74 24 0.6 0.0 0.9 1.4 45 202
BOU-DD23-182 8275N Para 177.9 181.0 0.50 30 3.1 0.0 1.0 2.4 12 243
BOU-DD23-182 8275N Main 189.2 192.0 0.82 23 2.8 0.1 2.0 1.2 31 248
BOU-DD23-182 8275N Para 196.2 199.2 0.67 17 3.0 0.0 0.8 1.6 7 198
BOU-DD23-182 8275N Para 201.2 205.4 0.43 16 4.2 0.0 0.6 2.1 4 190
BOU-DD23-183 8025N Para 105.8 107.0 1.02 48 1.2 0.1 0.0 0.0 3 160
BOU-DD23-183 8025N Para 287.7 288.7 0.64 7 1.0 0.0 0.3 0.1 6 85
BOU-DD23-183 8025N Para 364.9 366.2 0.38 16 1.3 0.1 0.1 0.2 7 75
BOU-DD23-183 8025N Main 507.6 514.0 0.80 23 6.4 0.0 0.4 0.6 10 146
Including 508.2 510.0 1.85 20 1.8 0.1 0.3 0.6 10 244
BOU-DD23-184 8225N Para 59.7 60.2 0.52 33 0.5 0.0 0.6 4.6 40 358
BOU-DD23-184 8225N Main 104.8 134.9 2.57 85 30.1 0.1 0.6 2.2 15 474
Including 104.8 108.0 6.69 528 3.2 0.1 0.8 2.6 8 1339
Including 130.5 133.9 5.65 120 3.4 0.2 1.6 8.1 91 1169
BOU-DD23-184 8225N Para 135.9 136.9 0.36 12 1.0 0.0 0.3 5.7 9 369
BOU-DD23-185 8375N Para 143.4 145.4 0.56 24 2.0 0.0 0.5 1.0 11 148
BOU-DD23-185 8375N Para 175.6 176.5 4.97 252 0.9 0.4 2.7 8.5 16 1314
BOU-DD23-185 8375N Main 204.6 210.9 0.16 1 6.3 0.0 0.0 0.1 11 26
BOU-DD23-185 8375N Para 244.3 244.8 0.14 46 0.5 0.0 1.1 1.6 11 182
BOU-DD23-186 8175N Main 37.8 54.4 1.85 150 16.6 0.1 0.3 1.9 8 442
Including 45.4 48.1 6.03 381 2.7 0.2 0.5 1.7 12 1088
BOU-DD23-187 8225N Para 62.4 62.9 0.25 102 0.5 0.0 1.1 2.2 9 285
BOU-DD23-187 8225N Para 157.4 157.9 0.97 77 0.5 0.0 1.8 2.8 20 378
BOU-DD23-187 8225N Para 165.2 167.2 0.23 29 2.0 0.0 0.3 0.8 6 104
BOU-DD23-187 8225N Para 168.2 169.1 0.24 34 0.9 0.0 2.0 1.6 12 206
BOU-DD23-187 8225N Main 183.6 193.3 1.27 33 9.7 0.0 0.2 1.9 33 271
Including 188.9 192.3 2.19 44 3.4 0.1 0.2 3.6 61 462
BOU-DD23-187 8225N Para 195.4 196.5 0.44 16 1.1 0.0 0.3 1.4 6 146
BOU-DD23-188 8275N Para 9.0 10.0 0.03 56 1.0 0.0 9.8 0.7 9 407
BOU-DD23-188 8275N Para 104.3 105.0 0.14 40 0.7 0.0 0.2 0.7 4 103
BOU-DD23-188 8275N Para 179.2 180.2 0.32 36 1.0 0.0 0.4 1.6 9 168
BOU-DD23-188 8275N Para 185.5 186.0 7.80 162 0.5 0.3 0.3 0.7 117 978
BOU-DD23-188 8275N Para 190.9 191.4 0.47 41 0.5 0.0 1.0 3.1 8 289
BOU-DD23-188 8275N Para 194.7 195.3 0.42 44 0.6 0.1 0.8 2.1 7 231
BOU-DD23-188 8275N Main 216.8 218.8 1.37 26 2.0 0.0 0.3 0.3 5 188
BOU-DD23-188 8275N Para 238.9 239.4 0.38 50 0.5 0.0 0.9 2.2 2 237
BOU-DD23-188 8275N Para 280.6 283.4 0.39 36 2.8 0.0 0.2 1.2 27 149
BOU-DD23-189 8175N Para 77.5 78.4 0.37 36 0.9 0.1 0.8 2.7 13 251
BOU-DD23-189 8175N Para 89.3 90.4 0.38 24 1.1 0.0 0.3 0.7 6 110
BOU-DD23-189 8175N Main 92.5 97.3 4.00 126 4.8 0.1 1.5 1.4 14 642
Including 94.3 97.3 5.95 179 3.0 0.2 2.2 1.2 15 896
BOU-DD23-189 8175N Para 100.2 101.2 0.35 20 1.0 0.0 0.0 0.1 12 61
BOU-DD23-189 8175N Para 103.1 114.7 1.38 68 11.6 0.1 0.1 2.9 33 366
BOU-DD23-190 8375N Para 26.7 27.6 0.18 42 0.9 0.0 1.5 2.8 26 259
BOU-DD23-190 8375N Main 249.1 250.9 0.14 79 1.8 0.0 0.7 1.2 56 183
BOU-DD23-191 8175N Para 122.8 123.5 0.22 37 0.7 0.0 0.3 5.1 1 343
BOU-DD23-191 8175N Para 140.9 142.0 1.08 12 1.1 0.0 0.2 0.6 1 154
BOU-DD23-191 8175N Main 158.5 169.5 1.61 30 11.0 0.1 0.2 3.4 12 377
Including 158.5 167.5 1.87 33 9.0 0.1 0.2 3.7 7 423
BOU-DD23-192 8225N Para 11.4 13.8 0.22 54 2.4 0.0 0.1 0.2 1 91
BOU-DD23-192 8225N Para 127.2 127.7 0.64 63 0.5 0.0 1.3 3.2 4 343
BOU-DD23-192 8225N Main 226.1 230.8 1.75 41 4.7 0.1 0.2 0.4 19 241
Including 228.1 230.8 2.31 58 2.7 0.1 0.3 0.5 12 323
BOU-DD23-192 8225N Para 338.2 339.3 14.62 1 1.1 0.0 0.0 0.0 9 1371
BOU-DD23-194 8275N Para 76.5 77.2 2.91 632 0.7 0.1 1.2 2.0 4 1063
BOU-DD23-194 8275N Para 200.7 201.7 9.14 84 1.0 0.4 0.2 0.4 31 1024
BOU-DD23-194 8275N Main 240.3 240.9 0.30 35 0.6 0.2 1.2 7.1 35 513
BOU-DD23-194 8275N Para 277.6 278.7 0.41 19 1.1 0.0 1.2 1.5 20 179
BOU-DD23-195 8175N Para 80.4 81.3 0.41 40 0.9 0.0 0.2 0.4 1 110
BOU-DD23-195 8175N Para 84.6 85.4 0.51 36 0.8 0.0 1.2 2.3 4 245
BOU-DD23-195 8175N Para 175.0 175.9 0.17 40 0.9 0.0 0.9 2.6 5 227
BOU-DD23-195 8175N Main 185.0 185.5 0.75 44 0.5 0.0 1.5 3.9 1 376
BOU-DD23-195 8175N Para 213.7 214.6 0.57 32 0.9 0.0 0.7 1.2 7 176
BOU-DD23-196 8225N Para 15.3 16.3 0.56 16 1.0 0.0 0.1 0.2 19 82
BOU-DD23-196 8225N Para 37.7 38.8 0.03 52 1.1 0.0 0.3 1.1 6 128
BOU-DD23-196 8225N Para 85.6 86.4 4.83 112 0.8 0.0 0.4 0.7 1 614
BOU-DD23-196 8225N Para 168.3 168.8 0.61 32 0.5 0.0 0.2 5.3 24 386
BOU-DD23-196 8225N Para 215.2 216.4 1.75 19 1.2 0.1 2.6 1.4 25 351
BOU-DD23-196 8225N Main 253.7 254.5 0.57 43 0.8 0.0 0.3 3.2 35 282
BOU-DD23-196 8225N Para 407.9 408.5 0.52 79 0.6 0.0 0.2 1.6 5 224
BOU-DD23-198 8675N Para 44.5 45.0 1.85 118 0.5 0.0 1.2 2.7 1 477
BOU-DD23-198 8675N Para 71.0 73.1 1.66 41 2.1 0.0 1.0 2.9 44 392
BOU-DD23-198 8675N Para 185.8 196.1 2.59 63 10.3 0.2 0.2 2.1 6 451
Including 185.8 189.4 6.21 144 3.6 0.5 0.4 3.7 5 1006
BOU-DD23-198 8675N Para 271.3 273.4 1.85 16 2.1 0.0 1.5 0.3 8 255
BOU-DD23-198 8675N Para 310.3 311.6 1.67 139 1.3 0.0 1.0 0.3 28 345
BOU-DD23-198 8675N Main 323.3 326.0 1.50 58 2.7 0.0 0.2 0.2 29 216
BOU-DD23-198 8675N Para 370.2 371.2 0.22 40 1.0 0.0 0.2 0.3 2 85
BOU-DD23-198 8675N Para 374.4 375.4 0.45 20 1.0 0.0 0.1 0.1 5 72
BOU-DD23-198 8675N Para 378.6 381.1 2.11 48 2.5 0.0 0.9 2.5 83 415
BOU-DD23-200 8175N Para 135.5 136.3 1.87 25 0.8 0.0 0.1 0.2 4 214
BOU-DD23-200 8175N Main 244.3 248.5 3.47 80 4.2 0.3 0.1 1.0 19 506
Including 244.3 246.3 5.37 124 2.0 0.5 0.1 0.6 18 736
BOU-DD23-200 8175N Para 258.0 259.0 0.67 24 1.0 0.0 0.5 3.1 11 275
BOU-DD23-200 8175N Para 295.2 295.7 0.63 55 0.5 0.0 0.3 4.1 53 349
BOU-DD23-201 8225N Para 94.7 95.4 0.12 47 0.7 0.0 0.4 0.8 4 116
BOU-DD23-201 8225N Para 209.1 210.0 0.49 28 0.9 0.0 1.4 1.5 5 201
BOU-DD23-201 8225N Para 231.7 232.4 0.42 20 0.7 0.0 0.5 1.2 9 142
BOU-DD23-201 8225N Para 242.4 246.6 2.59 39 4.2 0.1 0.2 0.7 9 341
Including 242.4 244.0 5.06 77 1.6 0.3 0.3 0.3 8 613
BOU-DD23-201 8225N Main 315.0 316.0 0.30 32 1.0 0.1 0.8 4.7 19 357
BOU-DD23-202 8675N Para 95.5 96.7 1.06 48 1.2 0.0 0.5 2.2 15 286
BOU-DD23-202 8675N Para 104.9 105.4 1.59 110 0.5 0.0 3.0 7.9 5 786
BOU-DD23-202 8675N Para 223.1 226.0 3.61 67 2.9 0.1 0.3 2.8 18 583
BOU-DD23-202 8675N Para 227.8 229.2 0.58 11 1.4 0.0 0.1 0.3 19 85
BOU-DD23-202 8675N Para 239.0 239.5 2.48 42 0.5 0.1 0.5 11.3 37 909
BOU-DD23-202 8675N Para 242.6 243.2 0.72 24 0.6 0.0 0.6 2.3 21 238
BOU-DD23-202 8675N Para 250.8 251.3 0.43 36 0.5 0.0 1.1 3.5 3 308
BOU-DD23-202 8675N Para 266.6 267.4 0.22 35 0.8 0.0 2.8 2.4 15 277
BOU-DD23-202 8675N Main 349.2 355.2 4.31 129 6.0 0.1 0.6 1.4 41 645
Including 352.3 354.0 10.11 339 1.7 0.3 1.2 2.8 54 1522
BOU-DD23-202 8675N Para 418.8 422.2 1.56 39 3.4 0.0 0.5 0.7 2 240
BOU-DD23-203 8175N Para 100.1 101.8 0.23 59 1.7 0.0 0.9 1.5 3 191
BOU-DD23-203 8175N Para 207.4 207.9 0.46 91 0.5 0.1 1.9 4.3 6 435
BOU-DD23-203 8175N Para 269.5 270.0 1.06 41 0.5 0.0 0.9 2.4 4 300
BOU-DD23-203 8175N Para 280.7 281.7 0.32 20 1.0 0.0 0.4 0.5 9 92
BOU-DD23-203 8175N Main 282.7 285.9 2.00 55 3.2 0.1 0.1 0.2 12 269
BOU-DD23-203 8175N Para 289.5 290.6 0.42 12 1.1 0.0 0.3 1.2 10 124
BOU-DD23-203 8175N Para 332.2 332.7 0.41 20 0.5 0.0 0.3 4.7 9 324
BOU-DD23-203 8175N Para 373.2 374.3 0.03 89 1.1 0.2 0.8 1.2 7 201

*     True width remains undetermined at this stage; all values are uncut.

**   Ag equivalent is based on a 100% recovery with the following ratio; 1 g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 Ag; 1% Pb: 31.8 Ag;

1% Zn: 54.1 Ag.

 

 

Appendix 2 – New Drillhole Coordinates of 2023 Boumadine Exploration Program (completed holes)

 

DDH No. Easting Northing Elevation Azimuth Dip Length (m)
BOU-DD23-213 316 991 3 474 849 1 257 70 -50 600.0
BOU-DD23-214 317 026 3 477 177 1 216 250 -50 447.1
BOU-DD23-215 316 714 3 477 378 1 220 250 -50 330.1
BOU-DD23-216 317 077 3 474 268 1 258 70 -50 705.0
BOU-DD23-217 316 754 3 477 393 1 218 250 -50 363.8
BOU-DD23-218 317 101 3 477 207 1 208 250 -50 483.5
BOU-DD23-219 316 868 3 477 434 1 214 250 -50 465.4
BOU-DD23-220 317 079 3 474 775 1 274 70 -50 144.5
BOU-DD23-221 317 010 3 474 750 1 263 70 -50 369.0
BOU-DD23-222 316 483 3 477 496 1 222 250 -50 171.1
BOU-DD23-223 317 170 3 474 754 1 294 70 -50 299.4
BOU-DD23-224 317 234 3 474 537 1 283 70 -50 302.0
BOU-DD23-225 316 552 3 477 523 1 214 250 -50 206.0
BOU-DD23-226 316 626 3 477 547 1 211 250 -50 350.2
BOU-DD23-227 316 714 3 477 576 1 214 250 -50 356.1
BOU-DD23-228 317 161 3 474 514 1 273 70 -50 419.5
BOU-DD23-229 317 103 3 474 730 1 280 70 -50 332.3
BOU-DD23-230 317 046 3 474 763 1 270 70 -50 261.0
BOU-DD23-232 317 456 3 476 254 1 211 250 -50 532.1
BOU-DD23-233 317 067 3 474 717 1 274 70 -50 76.5
BOU-DD23-234 316 976 3 474 737 1 259 70 -50 501.0
BOU-DD23-235 317 036 3 474 706 1 266 70 -50 500.7
BOU-DD23-236 317 088 3 474 487 1 268 70 -50 606.2
BOU-DD23-237 317 378 3 476 226 1 209 250 -50 600.5
BOU-DD23-238 317 298 3 476 197 1 218 250 -50 510.0
BOU-DD23-239 316 937 3 474 723 1 258 70 -50 486.7
BOU-DD23-240 317 001 3 474 693 1 260 70 -50 466.4
BOU-DD23-242 317 227 3 476 171 1 228 250 -50 384.8
BOU-DD23-244 317 147 3 474 666 1 278 70 -50 236.6